How Can I Get An MBA in Taxation Online?

Whether you are an accountant wanting to expand your knowledge base or have an interest in understanding how the taxation system works, a job as a tax expert is a smart career choice. And bagging an MBA in taxation online from the comfort of your home? Now that’s badass.

A Master of Taxation degree is a degree that teaches students business principles with concentrated coursework in business law as well as financial accounting, managerial accounting, and federal taxation.

Furthermore, it prepares people to work on both the theoretical and technical aspects of taxes, for businesses and large corporations. Hence, the online Masters in Taxation programs usually combine theoretical studies with tax research and application in real-world tax settings.

The table of content below has highlighted the importance of having an MBA in taxation and how can get an online MBA in taxation.

Why it is important to do an MBA in Taxation?

  • Your career options can increase significantly with an online Masters in Taxation.

Firstly, you can explore administrative and executive roles that are often not available with only an undergraduate degree.

You could advance your career as a Financial Advisor, assessing the financial needs of your clients and advising them on investment and financial management to minimize their tax obligations. So, you can advance your career through the ranks from Tax Accountant through to Tax Director.

Secondly, earning an MBA provides students with a solid foundation in financial accounting, managerial accounting, and federal taxation.

The M.B.A. curriculum gives students a comprehensive overview of managerial problem-solving, accounting ethics which is also in line with Generally Accepted Accounting Principles (GAAP). It also teaches students how to quantitatively analyze the strength of the company through its financial statements

Therefore, the process of bagging an online master’s offers you the flexibility you need to earn a degree by working around your schedule and offering classes at the times that suit your needs.

So, you can also earn a degree while still practicing in the field.

Why Get a Master in Taxation Online?

Earning a degree in taxation that allows you to work during your online studies is the best option ever offered.

While you will need to master time management to complete your studies online in this manner, it is great way to be very efficient in the workplace. This also helps you to develop critical professional networks with fellow students and instructors.

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Also, taking masters of taxation degree programs from highly recommended universities is very cost-effective, as compared to the traditional setting.

Relax, I can sense your next question.

How much does it cost to get an MBA in taxation Online?

The cost of acquiring an MBA in taxation online is relative. The average in-state online tuition fee for an MBA in Taxation is $51,417.76 compared to the average out-of-state online tuition of $62,226.95.

So, depending upon the graduate employment rate and the average salary of an MBA graduate where your school is located, you could decide to attend an in-state program.

Generally, an online MBA in Taxation will cost you between $16,642.00 to $116,229.00 a year.

Are GMAT Scores needed to Apply for Taxation MBA Programs?

Good news. Yes! there are MBA in taxation programs that require no GMAT score. However,  a strong GMAT score would give you more options for better schools to choose from. The lowest average on-campus GMAT Score is 460 compared to the highest average GMAT score of 672 for traditional MBA in Taxation programs.

So, if you wish to attend an online MBA program, 460 to 645 is the average GMAT range.

What Will I Learn in My MBA Taxation Program?

Sector Description
Technical, Conceptual, Problem-Solving Apply critical thinking as well as problem-solving skills related to taxation of individuals, flow-through entities, and corporations.
Professional Development Convert complex and also technical tax terms that are more digestible for non-technical departments like customer service, marketing and sales.
Research The ability to work with multiple accounting programs (SAGE, Quickbooks, Excel) while thoroughly researching and evaluating updated tax codes, taxation law, and adhering to the GAAP as well.
Ethical Principles and Professional Standards Demonstrate an understanding of ethical principles as well as professional standards related to the profession, including the standards in taking a tax position. Also, show the ability to express and follow rules of independence and professional ethics.
Globalization Examine key differences in taxing policies from country to country thoroughly. Reflect on cultural as well as ethnic differences in approaches to business and taxation policies.

Is an Online MBA in Taxation respected?

Employers who were once reluctant about hiring MBAs in Taxation who earned online degrees are experiencing a paradigm shift. Instead of seeing online MBA degrees as inferior, employers are now seeing the advantages of e-learning.

Secondly, a major influence on the credibility of an MBA in taxation online is the reputation of the school that offered it. So, it is very important to research schools that offer the best online masters of taxation degree programs before applying.

A recent study conducted by the U.S. Department of Education validated the quality of online learning. Findings reported e-learning to be equal to and better than learning gotten at campus-based colleges as well.

What can I do with an Online MBA in Taxation degree?

With the demand for taxation professionals on the rise, you could become any of these financial managers:

  • Controllers direct the preparation of financial reports that summarize as well as forecast the organization’s financial position, such as income statements, balance sheets, and analysis of future earnings or expenses.
  • Treasurers, as well as finance officers, direct their organization’s budget to meet their financial goals. They oversee and carry out strategies to raise capital to support the firm’s expansion.
  • Credit Managers generally oversee their firm’s credit business. They set credit-rating criteria, as well as monitor the collections of past-due accounts.
  • Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. Among the risks they try to limit are those that stem from currency as well as commodity price changes.
  • As Insurance Managers, generally decide how best to limit a company’s losses by obtaining insurance against risks.
  • Cost Estimators analyze a project’s overall expenses compared to the income the commercial property will generate over time.
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How much money do people make with a Master’s Degree in Taxation?

Having a master’s degree in Taxation is highly beneficial, with the average tax accountant or collector earning well over $69,350 per year, even to a high end of up to $150,000.

According to PayScale, the average salary for someone with a Masters in Taxation is $95,949.

Furthermore, the future looks hopeful as demands for these jobs are on the rise. Hence, the demand for professional tax advisors and consultants would be expected to grow at a rate of 27% through 2022.

Also, the Bureau of Labor Statistics reports how technical careers in accounting, such as Financial Managers, will grow by 19 by 2026.

Let’s take a look at some earners as taxation specialists with an MBA in Taxation, shall we?

Sector Avg. Salary
Tax Director, Senior Manager $168,000
Chief Financial Officer (CFO) $133,000
Tax Manager, Public Accounting $92,000
Tax Manager $146,000
Asst. Controller Accountant, CPA $80,000

Where can I get an Online MBA in Taxation degree program?

At first, we researched schools that offered this taxation syllabus online, to help make your studies more convenient as our first ranking criteria.

With that being said, here are schools that offer the best online masters of taxation degree programs:

California State University, Northridge

The Master of Science in Taxation program allows students to study entirely online while receiving one-on-one mentorship from outstanding faculty. Also, their MBA tuition program runs in a cohort format.

This program requires only 19 months of study. For this reason, it is ranked as one of the best by BestAccountingSchools.com. Also, ninety percent of all courses are taught by leading tax practitioners, many of whom are practicing CPAs or hold additional law degrees.


Average Tuition & Fees: $23,160.

Florida Atlantic University

According to U.S. News and World Report, Florida Atlantic has one of the highest passing rates of CPA examinations out of all other schools polled. Also, the School of Accounting Executive Programs at Florida Atlantic University is host to a fully online Executive Master of Taxation degree program.

Hence, this makes it a reliable school to get offer this taxation tuition program.

Students spend around 2 years completing 30 credit hours with a minimum 3.0 GPA.

Also, you can tap into lectures at your convenience or interact through live videoconferencing. This reduces the rigors of learning significantly.

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Average Tuition & Fees: $10,100

University of Cincinnati

Over the span of 24 months, students enrolled in the University of Cincinnati’s online option for earning a Master of Science in Taxation will complete 30 credit hours. So, the core coursework covers corporate, individual and federal tax issues.

Upon graduation, you will be equipped to pass the Certified Public Accountant (CPA) exam. To encourage seriousness, prospective students must submit proof of completed undergraduate studies, GMAT or GRE scores, 2 reference letters, a resume, and a purpose statement.

Average Tuition & Fees: $12,790

The University of Akron

Students can complete the MTax Direct program at the University of Akron in 15 months. However, this degree was designed to accommodate working adults. Although, students without an accounting degree or JD must take foundation courses before admission.

Courses take place during five 10-week terms, except for tax season. Students can also attend live classes in Akron one night per week, or via web live-streaming. However, for those who must miss a class for work obligations, they can view the recording.

With that being said, required courses include Tax Research, Corporate Taxation, Tax Policy, and Tax Accounting. And electives include Tax Crimes and Forensics, Estate Planning, or Mergers and Acquisitions.

Average Tuition & Fees: $16,863

FAQs on Online MBA in Taxation

Can I Work While I Complete My Online Mba In Taxation?

Of course, you can work while taking an MBA in taxation degree program. However, you will need a great level of self-discipline and time management skills to pass the courses well.

What Are The Advantages To Earning an MBA in taxation Online?

Earning an online master in taxation still all the same credibility and benefits of an on-campus program and more.

While allowing students to advance their learning from anywhere in the world, it also allows to learn with their own schedule.

Can I do an MBA in Taxation online with no GMAT score?

While some schools accept students with no gmat score, it is important to have a high GMAT score because it affords you more options for better universities with higher credibity.

How can an MBA in Taxation help my career?

Any graduate degree in taxation particularly an MBA, will definitely benefit your career. MBA in taxation is a standard job qualification for various business and management positions. An MBA in taxation holder is eligible to be given a Certified Public Accountant Designation.

Are online MBA in taxation degrees legit?

Online Masters in taxation degrees are not scam. They are highly recognised globally. However, a school’s reputation highly exceeds the programs they offer, hence it is important to always look out for schools

How do I become a Tax manager with an MBA?

It’s relatively easy to become a tax manager or any higher paying job in the taxation field as an MBA degre holder. However, if you are a newbie, just follow these steps:
Step 1: Get a Bachelor’s Degree. A bachelor’s degree program in accounting can help prepare students for a career in tax analysis. …
Step 2: Gain Work Experience in the field
Step 3: Earn a Master’s Degree or ann MBA in taxation.
Step 4: Get Certified with
Step 5: Join a Professional Organization.

Conclusion

Having an MBA in taxation online is cost-effective and credible. As compared to on-campus learning, getting this master’s in taxation is flexible. This has reduced the rigors of higher learning significantly.

So, we have explained in detail why you need this degree and how to apply and get one. However, it is important to choose a school that meets your standard and has a solid reputation to increase your employability.

References

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